S&P Global revises Bharti Airtel outlook to 'stable' from 'negative'

S&P said Airtel's "improving operating fundamentals should improve its margins and Ebitda"

Ratings agency S&P Global on Thursday revised Bharti Airtel’s outlook to “stable” from “negative,” on the back of the company's operating fundamentals and superior leverage management.

“The stable outlook reflects our view that Airtel will actively manage its leverage such that its ratio of funds from operations (FFO) to debt will stay well above 20% on a sustained basis, while maintaining its competitive position,” S&P Global said in a statement.

The ratings expects Airtel’s upcoming mega funds raise via rights issue to alleviate the likely impact from upcoming 5G spectrum liabilities, which is necessary for the telco’s competitiveness.

“We believe the rights issue